TNB Card Services Buys Credit Card Program from Sterlent Credit Union of California

TNB Card Services has purchased the credit card portfolio of Pleasanton, California-based Sterlent Credit Union, and will operate the card programs through its agent issuer organization. This latest acquisition brings to nearly 70 the number of portfolios that TNB has bought since it began the agent card issuing program in late 2002.

“Sterlent was in the same position as so many credit unions, with a solid credit card program, but one that resisted growth despite their best efforts,” noted Jay Kurian, first senior vice president of TNB Card Services. “They realized that with TNB in charge of the program, their cardholder members would be well taken care of, and that Sterlent would be freed to focus on other loan products.”